26 unchanged sentences
Unless the context suggests otherwise, when we refer in this Form 10-K to business and financial information for periods prior to the consummation of the reverse acquisition, we are referring to the business and financial information of Nemo Holding.
−Removed: As of March 19, 2020, there were 340,268,500 shares of the Registrant’s common stock, par value $0.001 per share, outstanding.
+Added: As of April 14, 2023, there were 190,782,774 shares of the Registrant’s common stock, par value $0.001 per share, outstanding.
Leung is presently the beneficial holder of 69,113,213 shares of common stock, or 36.2%, of the issued and outstanding shares of common stock of Nemo Holding, making him the controlling stockholder of the Company.
4 unchanged sentences
The business of Nemo Holding is now the principal business of the Company.
−Removed: Nemo Holding, through its subsidiaries operates an online ticketing platform named Gagfare.com, which provides a ticketing system for individuals and agencies to search, book and issue flight tickets and other services.
+Added: Nemo Holding has developed and operates an online ticketing platform named Gagfare.com, which provides a ticketing system for individuals and agencies to search, book and issue flight tickets and other services.
The Company also offers its services through its app, Gagfare.
−Removed: The Company’s principal administrative office is located at Room 150 Cecil Street #08-01 Singapore 069543, and our telephone number is +65 3105 1428.
+Added: Nemo Holding’s principal administrative offices are located at Room 150 Cecil Street #08-01 Singapore 069543, and our telephone number is +65 3105 1428.
Our website is www.gagfare.com.
5 unchanged sentences
Total Stockholders’ Deficit
−Removed: The Company, through its subsidiaries operates an online ticketing platform, named Gagfare.com, which provides a ticketing system for individuals and agencies to search, book and issue flight tickets and other services.
+Added: Nemo Holding Company Limited has developed and operates an online ticketing platform, named Gagfare.com, which provides a ticketing system for individuals and agencies to search, book and issue flight tickets and other services.
Being the pioneer to provide “book-now-pay-later” option for securing flight ticket reservations, Gagfare enables travelers to search flights directly with over 500 airlines globally, and securing a confirmed, impartial airfare on their desired flight, instantly.
−Removed: With a unique and first time ever ‘book-now-pay-later’ solution provided by Gagfare, travelers can now pay only $2.00 to secure up to nine flight seats, well in advance of schedule, on their desired flight.
+Added: With a unique and first time ever ‘book-now-pay-later’ solution provided by Gagfare, travelers can now pay only $2.00 to secure up to nine flight seats, well in advance in schedule, on their desired flight.
Travelers don’t have to pay the rest of the fare until closer to their travel date.
−Removed: The business mission of Gagfare is served for its customers to “get a good fare.” Gagfare taps into multiple global distribution systems specifically for flight reservations, enables customers to search and book their flights directly in the airlines’ own reservation systems.
+Added: The business mission of Gagfare is to let customers to “get a good fare.” Gagfare taps into multiple global distribution systems specifically for flight reservations, enables customers to be able to search and book their flights directly in the airlines’ own reservation systems.
This gives travelers access to the best available promotional deals they may never encounter anywhere else online.
6 unchanged sentences
Travelers can book itineraries with multiple stops, and check for their bookings through the airline official booking web sites by using the Gagfare booking reference information.
−Removed: Gagfare user just needs to pay $2.00 through multiple popular online payment methods to secure the best seats on their best flight choice instantly.
+Added: Gagfare users just need to pay $2.00 through multiple popular online payment methods to secure the best seats on their best flight choice instantly.
A reminder will be sent through email to the customer when it is time to pay the flight ticket fare and issue the flight ticket.
2 unchanged sentences
Gagfare plans that its revenue will be derived from online flight ticket booking and ticket issuance.
−Removed: For each advance booking that user makes through the Gagfare’s state of the art book-now-pay-later solution, a non-refundable $2.00 booking fee is paid to Gagfare.
+Added: For each advance booking that a user makes through the Gagfare’s state of the art book-now-pay-later solution, a non-refundable $2.00 booking fee is paid to Gagfare.
The booking fee will not apply to the flight ticket payment at ticket issuance.
7 unchanged sentences
Pursuant to a Cooperation Agreement, dated February 1, 2016, by and between Gagfare Limited, a Hong Kong corporation and wholly owned subsidiary of the Company, and JJ Explorer Tours Limited, a Hong Kong corporation (“JJ Explorer”), controlled by Leung Tin Lung David, JJ Explorer develops and maintains website and mobile application platforms the Company uses in the operation of its business in exchange for 50% of the net earnings the Company earns through its Gagfare website and mobile application platforms for a term of five years.
+Added: On January 31, 2021, JJ Explorer agreed to extend the term of additional 5 years up January 31, 2026.
+Added: This agreement was terminated on February 28, 2022 and simultaneously, on the same date, a Cooperation Agreement was signed between JJ Explorer and New Momentum Asia Pte., Ltd.
+Added: (“NMAPL”), a wholly owned subsidiary of the Company.
+Added: Whilst the role of JJ Explorer remained the same, NMAPL was responsible to develop global marketing and business operations of the platform.
+Added: The agreement provided for the sharing of the net earnings derived through the platform to be shared at 50% with JJ Explorer at the end of the term of the agreement in five (5) years.
+Added: The agreement, nevertheless was also terminated on October 31, 2022.
Government Regulation and Approvals
10 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.